Introduction to Saving

Freshman Year · Wealth · Required Lesson

Introduction to Saving

25–30 minutes Easy Required

Destination

By the end of this conversation, the mentee should be able to explain why saving matters, describe what makes a goal short-term and set one specific short-term savings goal with a plan to reach it.

Stop 1 of 4

Talk

Goal: Find out how the mentee currently thinks about saving, and whether it feels realistic or out of reach to them.

“Saving isn’t about having a lot of money. It’s about deciding, on purpose, not to spend some of it today—so it’s there for you later.”

Choose three to five questions

1. Have you ever saved up money for something? What was it, and how did it go?
2. What’s something you’d like to buy or do in the next few months that costs more than you have right now?
3. What usually gets in the way when you try to save?
4. Do you think saving is easy or hard? Why?
5. If $5 magically appeared every week no matter what, what would you do with it?
Mentor Tip: Many teens have never saved successfully before—not because they lack discipline, but because no one showed them a plan small enough to actually work. Keep today’s goal small and doable.

Stop 2 of 4

Learn

Why save at all?

Saving means setting money aside now instead of spending it right away. It gives you options later—for something you want, something you need, or something unexpected. Without savings, every unplanned expense becomes a crisis. With savings, it becomes an inconvenience.

Route 21 Big Idea:
You don’t save money because you have extra. You have savings because you decided to set money aside before you had a chance to spend it.

Short-term, medium-term and long-term goals

Not all savings goals are the same. The timeline changes how you plan for them.

Short-termSomething you want in the next few weeks to about a year.Examples: shoes, a concert, a gift
Medium-termSomething a few years away.Examples: a car, a trip
Long-termSomething many years away.Examples: college, retirement

Today is about short-term goals—the easiest place to start, because you can see progress quickly.

Pay yourself first

One of the most reliable saving habits is to set money aside for your goal before spending on anything else—not with whatever happens to be left over at the end.

A sample short-term savings plan

Here’s an example for someone saving toward a $60 pair of headphones:

Sample Savings Plan
Goal: Headphones$60.00
Already saved$0.00
Saving per week$10.00
Weeks needed6 weeks

The math is simple on purpose: Goal amount ÷ amount saved per week = weeks needed. Knowing the number of weeks turns a vague wish into a plan with an actual finish line.

Stop 3 of 4

Try

Build your own short-term savings plan

Pick one real short-term goal and fill in the plan together.

My goal___________
Cost of goal$ ______
Already saved$ ______
I can save per week$ ______
Weeks needed______
Where will this saved money actually go—a jar, an envelope, a savings account? Where can’t it easily be spent by accident?

Choose Your Route

Pick the video that best fits your time and interest today. You only need to watch one.

Level 1 · Quick Stop

What Is a Savings Goal?

Approximately 3–5 minutes

A short, kid-friendly explanation of what savings goals are, why they help and how short-term goals differ from long-term ones.

Watch the Quick Stop
Talk afterward: What’s one goal from the video that reminded you of something you want?

Level 2 · Scenic Route

Short, Medium & Long Term Savings Goals

Approximately 8–10 minutes

A closer look at how short, medium and long-term goals differ, with real-world examples of each.

Take the Scenic Route
Talk afterward: Do you have a goal in each category—short, medium and long-term?

Level 3 · Open Road

How to Set Savings Goals for the Short and Long Term

Approximately 15–20 minutes

A deeper, more adult-oriented look at how people plan and prioritize savings goals across different timelines.

Explore the Open Road
Talk afterward: What’s one idea from the video that could apply to your life now, even though it’s aimed at adults?
Mentor Reminder: Let the mentee choose the route whenever possible. The savings plan built above matters more than the video—keep the goal specific and the number small enough to be believable.

Stop 4 of 4

Grow

Reflection

What is the difference between a short-term goal and a long-term goal, in your own words?
What is your short-term savings goal, and how many weeks will it take?
What might get in the way of sticking to this plan?
What would help you remember to save before you spend?

Start this week

Before the next meeting, try putting aside the planned amount at least once—even a small, real step matters more than a perfect plan that never starts.

  • Decide where the saved money will go.
  • Set the money aside as soon as it comes in, not at the end.
  • Check back in on progress at the next meeting.

How can your mentor help?

How can Route 21 help?

Would a savings tracker, jar system or account-opening support help you follow through on this goal?
Mentor Wrap-Up:
Did the mentee leave with one specific, believable goal and number—not just a vague idea? Did you agree on how you’ll check in on their progress?